FX.co ★ AUD/USD: upside reversal from above 0.6667

AUD/USD Attracts More Buyers!

The AUD/USD pair is moving somehow sideways in the short term. It's trading at 0.6650 at the time of writing and its trajectory seems undecided. From the technical point of view, breaking above the downtrend line announced that the downside movement ended and that the buyers could drag it higher again.

After its strong growth, a minor drop was natural. The former high of 0.6667 represents an upside obstacle.

AUD/USD Trading Conclusion!

Jumping above 0.6667 confirms a larger growth and activates a potential reversal.